Petrolympic Ltd. (TSX:PCQ.V – OTCQB:PCQRF) is a Canadian junior oil and gas company actively exploring for premium light crude oil and natural gas in North America. The Company is presently focused on its near-term conventional oil and natural gas production assets in the Gaspe Peninsula, Province of Quebec, Canada. The Company also holds natural gas assets in the Utica Fairway of Quebec and an 8,000+ acre asset in the oil-prolific Maverick Basin of Texas, USA.
The land position in Quebec consists of 100% interest in 5 exploration permits over 239,296 acres (96,840 hectares), 30% interest in 36 exploration permits totaling 1,601,466 acres (648,093 hectares) and 12% interest in 19,768 acres (8,000 hectares).
Petrolympic is targeting hydrothermal dolomite and naturally fractured hosted conventional light oil and natural gas in areas where hydrocarbon shows have been previously documented in geological outcrop sampling and coring programs together with its private joint venture partner Ressources et Energie Squatex Inc.
The partnership has recently discovered a conventional gas reservoir, heavy oil and condensates in the Masse structure located in the Gaspe Peninsula.
Formerly known as Petrolympia Inc., Petrolympic Ltd. boasts significant land positioning, promising geology, systematic exploration, accessible infrastructure and experienced management.